May 3, 2021 5:38pm

Earnings are a ‘ramping and April’s jobs report will be released on Friday

Pre-open indication performance: 9 HITs and 5 MISS – <weird session>

RMi outlines the daily dose of facts and objectivity!

I follow the dictum, quoting Churchill that “short words are best, and the old words when short are best of all.”

If you’re looking for sector intel, ideas and facts or Insight in a volatile climate, RMi defines the extenuating factors of share pricing!

The Dow closed UP +238.38 points (+0.70%); the S&P closed UP + 11.49 points (+0.27%) while the Nasdaq closed DOWN -67.56 points (-0.48%)



Indexes kick off May moving upward as the Nasdaq pooped the bed although weaker-than-expected manufacturing data that dulled some of the optimism around the recovery from the COVID pandemic.

After last week’s Friday, the Dow posted a weekly decline of 0.5%, but notched a 2.4% gain in April, while the S&P 500 was virtually unchanged, but gained 5.6% last month. The Nasdaq Composite registered a weekly loss of 0.4% but jumped 7% in April.

Anxieties surrounding the Fed’s response to a stronger economy has kept investors on edge. New York Fed President John Williams on Monday said he expects inflation to top 2% for rest of the year, but to decline after the economy has recovered. Dallas Fed President Robert Kaplan said Friday that he thinks it is time to discuss tapering the Fed’s asset purchases. <MarketWatch>


RegMed/Cell and Gene Therapy Earnings Scorecard Q1/21 LPS Results … to date:


Data docket: HS Markit data showed U.S. manufacturing activity grew at a record-high speed last month with April’s Manufacturing Business Activity PMI Index rising to 60.5, matching expectations from economists.

  • A separate gauge from Institute for Supply Management signaled a slowdown in manufacturing activities. The ISM Manufacturing PMI for April came in at 60.7, compared to the expected 65.0 and March’s level of 64.7.


RegMed/Stem/Cell and Gene therapy’s 35 covered equities’ Advance/Decline (A/D) lines: progressions and regressions

  • Monday opened negative at 12/21, 2 flat and 1 acquired, stayed negative at the mid-day to 8/24, 2 flats and 1 acquired, closing negative at 9/23, 2 flats and 1 acquired;
  • Friday opened positive at 27/10, 2 flats and 1 acquired, slipped negative at the mid-day to 16/19, 1 flat and 1 acquired, closing negative at 10/23, 1 flat and 1 acquired;


RegMed Investors’ (RMi) pre-open: “a busy week for earnings” …


Pre-open indication results:  9 HITs < Biostage (BSTG -$0.00 at $1.26 with 476 shares traded;  SELL into Strength: Chinook Therapeutics (KDNY +$1.03), MiMedx (MDXG +$0.26) – 2 profits, Applied Genetic Technologies (AGTC -$0.11), Fate Therapeutics (FATE -$2.28), Homology Medicine (FIXX -$0.06), Intellia Therapeutics (NTLA -$2.97), Mesoblast (MESO -$0.25), Vericel (VCEL -$0.356> and 5 MISS < CRISPR Therapeutics (CRSP -$8.46), Alnylam Pharmaceuticals (ALNY -$5.30), Editas Medicine (EDIT -$1.42), Sage Therapeutics (SAGE +$0.20), bluebird bio (BLUE -$0.40))>


There are clear winners and losers

Jumping with share pricing momentum:

  • Chinook Therapeutics (KDNY), uniQure NV (QURE), AxoGen (AXGN), MiMedx (MDXG), Sage Therapeutics (SAGE) to name 5 of the 9 inclining of the 35 covered

Hammered in today’s market:

  • CRISPR Therapeutics (CRSP), Alnylam Pharmaceuticals (ALNY), Ultragenyx (RARE), ReNeuron (RENE.L), Intellia Therapeutics (NTLA) to name 5 of the 23 declining of the 35 covered


Key metrics:

  • Sector volume was LOW with 1 of the 9-upside having higher than the 3-month average volume with the volume of 3 of 23-downside having higher than the 3-month average volume;
  • Monday’s percentage (%) of the 9-upside were +0.25% (SAGE) to +5.74% (KDNY) while the 23-downside ranges from -0.58% (VCEL) to -6.44% (CRSP);


Monday’s (9 of 9) incline

  • Chinook Therapeutics (KDNY +$1.03 after Friday’s +$0.91);
  • uniQure NV (QURE +$0.99 after Friday’s -$1.78);
  • AxoGen (AXGN +$0.63);
  • MiMedx (MDXG +$0.26 after Friday’s -$0.48);
  • Sage therapeutics (SAGR +$0.20);
  • Ionis Pharmaceuticals (IONS +$0.17 after Friday’s -$0.50);
  • BioLife Solutions (BLFS +$0.;17 after Friday’s +$0.31);
  • Verastem (VSTM +$0.05);
  • Solid BioSciences (SLDB +$0.04);

Monday’s (10 of 23) decliners:

  • CRISPR Therapeutics (CRSP -$8.46 after Friday’s -$0.61);
  • Alnylam Pharmaceuticals (ALNY -$5.30 after Friday’s +$0.95);
  • Ultragenyx (RARE -$5.13 after Friday’s -$1.87);
  • ReNeuron (RENE.L -$5.00 after Friday’s -$5.00)
  • Intellia Therapeutics (NTLA -$2.97 after Friday’s -$3.31);
  • Fate Therapeutics (FATE -$2.28 after Friday’s +$1.52);
  • Editas Medicine (EDIT-$1.42 after Friday’s -$0.36);
  • Global Blood Therapeutics (GBT -$0.83 after Friday’s -$1.01);
  • Regenxbio (RGNX -$0.61 after Friday’s +$0.02);
  • Precigen (PGEN -$0.45 after Friday’s -$0.49);

Closing: 2 flats –Biostage (BSTG) and Pluristem (PSTI) with 1- Stemline Therapeutics (STML – acquired)


COVID-19 updates:

  • About 2 in 5 American adults are now fully vaccinated. The U.S. is averaging 2.4 million reported vaccinations per day over the past week, down from a high point of 3.4 million reported shots per day on April 13. Over the weekend, the U.S. seven-day average of daily new cases fell below 50,000 for the first time since October. <CNBC>

Monday’s COVID Data Tracker <Million>:

  • Cases: 32.22 M
  • Death rate totaled 574,220 <Johns Hopkins University>
  • Vaccinations:  247 M



The iShares NASDAQ Biotechnology (IBB) and the SPDR S&P ETF (XBI) indicators:

  • Monday, the IBB closed up +0.01% and XBI closed down -1.19%
  • Friday, the IBB closed down -0.17% and XBI closed down -1.04%

The CBOE Volatility Index (VVIX: INDEX) tracked:

  • Monday was down -0.30 points or -1.61% at 18.31
  • Friday was up +1 point or +5.68% at 18.61

Upside volume: low

  • Monday: 1 out of the 9-upside had higher than the 3-month average volume;
  • Friday: 3 out of the 10-upside had higher than the 3-month average volume;

Downside volume: low

  • Monday: 3 out of the 23-downside had higher than the 3-month average volume;
  • Friday: 2 out of the 23-downside had higher than the 3-month average volume;

Percentage (%) movement/range statistics: LOW % with limited pricing drops as upside maintains

  • Monday’s percentage (%) of the 9-upside were +0.25% (SAGE) to +5.74% (KDNY) while the 23-downside ranges from -0.58% (VCEL) to -6.44% (CRSP);
  • Friday’s percentage (%) of the x-upside were +0.06% (RGNX) to +6.09% (MESO) while the xx-downside ranges from -0.15% (SAGE) to -5.90% (PGEN);


May, second month of Q2/21:

Monday (5/3) closed negative with 9 advancers, 23 decliners, 2 flats and 1 acquired


The BOTTOM LINE: as I stated this a.m., “New month, an even newer share pricing “battle” due to earnings’ season reporting.”

I am expecting weakness in the sector’s new month share pricing given the old “sell in May and go away” maxim. This mantra calls for taking off risk from May to October, a period where the market is more prone to sell-offs historically.

See earnings review:

Sector momentum remain TOO “fluid” and any pricing more uncertain as earnings’ season LPS (loss-per-share) declines induce more downside risks but, hopefully a few rebounds.

I’m STILL a “beware or the cautious man” whose focus has always been “warning analysis” … earnings’ season is NOT over … my advice, trim and skim any new highs if one can!”

My time frame of measurement is Friday to Friday and been proved right again, don’t get complacent …


Opinions expressed are those of the author and are subject to change, and not intended to be a forecast of future events, a guarantee of future results, nor investment advice.

Whether information or intelligence is good, bad or somewhere in between; I put into context what is relevant and useful for investors.  All investments are subject to risks. Investors should consider investment objectives.

Henry McCusker, the editor and publisher of RegMed Investors does not hold or have positions in securities referred to in this publication.